I am new to BP I haven't even complete mt profile I apologize to all for the unprofessional approach but I'm in a difficult situation.

I am a new investor I have a decent income no wife no kids trying to build wealth.

I found out yesterday my parents are loosing their home due to an unfortunate mortgage lender scam

Long story short they've been paying the mortgage, so they thought however the mortgage Co sold to another bank without their knowledge so the bank hasn't been recieving their payments and now the house is listed in a forclosure auction to be sold

They aren't as educated on these processes and I had no idea until last night

They now have no means to get a loan or keep the house

They worked with an attorney that apparently wanted nothing to do with the case and they waited too long to take action now it's too late

The online auction ends tomorrow and I would like to bid on the house

Buy it under my name lease it to my parents until they repair their credit enough to buy it back from me

They were making 1700 a month payments

So I know they can pay at least that

I can get the house for less than 150,000 fees and all

I need immediate help getting a private money loan for either the full amount or for a 20% down payment

Let me know of any ideas you may have or any more information you need

Please help in anyway forward to anyone you know that wants to lend money on a sure thing

Sorry again for the lack of professionalism but I have no where else to go and have no idea what to do.

If they have proof of all of the payments that were made to the loan servicer, and they did not receive a notice telling them of the change in servicer (the company to which payments are sent), then they have a reasonable defense.

This sounds like something for the courts ?. The only thing you could probably do quick to buy it is get something like a 401k loan. I don't think a HML is going to do this and if you have other family I would try to band together on buying it if you think it is the right thing to do.

Might want to find out where the money they were paying went. In my experience when the loan is sold they return your payments if they aren't against a valid loan. Where did that money go? I assume it could be used for a lawyer. If the bank has it your parents should be able to stop the foreclosure.

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